Sally Kolbig | Public figure
Sally Kolbig
Phone: +61 1300 132 982
Reviews
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21.01.2022 May Zenith report Over May, the US Federal Reserve and the Reserve Bank of Australia retained their existing cash rates as the global economy continued to recover and COVID-19 lockdown restrictions started to ease globally. Central banks devoted themselves to support any revival measures through delivering additional monetary policy. Global markets were again in the green over May as the decline in infection rates continued encouraging a slow but steady market reopen. Ad...ditional support measures were announced while renewed tensions between the US and China reignited. The Australian market followed suit and produced strong returns as restrictions were eased. Unemployment continues to place uncertainty on the recovery of the economy while household spending decreased dramatically. The RBA continues to provide an accommodative approach while a negative GDP growth was recorded for Q1. Bond yields continued to contract over the month, as global corporate bonds outperformed government bonds reflecting increased investor risk appetite. See more
17.01.2022 Temporary early access to superannuation. Proposed effective date: 2019-20 and first quarter (approx.) 2020-21. Applications available from mid-April 2020. The Government recognises that immediate financial necessities may temporarily outweigh the stated purpose of superannuation as a retirement savings vehicle and will temporarily allow additional early access to super savings in prescribed circumstances. People who meet the below criteria will be allowed to access: 1. up to... $10,000 of their super before 1 July 2020, and 2. up to an additional $10,000 in the three months starting from 1 July 2020 (timeframe is approximate and subject to legislation). Amounts released under these rules will be paid tax-free and will not affect Centrelink or DVA payments. Individuals eligible to apply for early release include: Those who are unemployed; or Those eligible to receive Jobseeker Payment, equivalent Youth Allowance, Parenting Payment, Special Benefit or Farm Household Allowance; or Those who on or after 1 January 2020: Were made redundant; or Had their working hours reduced by 20% or more; or As a sole trader, their business was suspended or turnover decreased by at least 20%. Those eligible must apply to the ATO through the MyGov website and must self-certify that they meet the above requirements. The ATO will then process the application and issue a Determination to the applicant and their super fund. The super fund will be able to then pay the applicant directly. Those eligible will only be allowed one withdrawal application in each period (i.e. cannot ‘top-up’ by making a second request if an original withdrawal for less than $10,000 was made). Applications for early release of super under this measure are expected to commence from mid-April 2020, approval and benefit payment time frames have not been announced at the time of writing. Early release of super benefits under this measure will also be available to members of SMSFs. Accessing super benefits in times of market down-turns is usually not recommended as it may crystallise losses. However members who experience loss of employment or a significant decrease in income may find this measure provides immediate financial relief and the basis to re-build. See more
13.01.2022 Zenith Monthly Market Report - March 2020 The onslaught of the COVID-19 pandemic saw all aspects of life affected as the world came to a metaphorical halt. Central banks around the globe announced alleviated monetary policy in order to fight against the economic and financial impacts of the virus. The US Federal Reserve cut its federal funds rate to 0-0.25% while the Reserve Bank of Australia dropped rates to 0.25%. This sentiment was echoed across the globe. Market vol...atility spiked and was prevalent throughout March as the global economy weakened upon extended government orders to close borders and restrict movement. Extreme falls in the global market that were not seen since the GFC persisted as the virus continued to spread. Likewise, the domestic market plummeted as the retail sector was shattered and consumer service demand decreased following restrictions on social distancing resulting job losses and closures. Records were reached as bond yields fell unrelentingly as investor sentiment turned to secure assets, notwithstanding a month of extreme fluctuation. Energy stocks were hurt the most as the oil price war endured. See more
07.01.2022 Support for retirees temporary reduction in minimum pension drawdown requirements Proposed effective date: Financial years 2019-20 and 2020-21. Similar to measures that applied following the 2008 Global Financial Crisis, the Government has proposed a 50% reduction in the minimum income drawings required from account based pensions and similar products for the 2019-20 and 2020-21 income years. This measure is designed to allow those whose circumstances permit to reduce incom...e payments from their superannuation based pensions or income streams so as to minimise the need to sell down assets in depressed markets. Those who have already taken 50% or more of the required minimum payment in the 2019-20 financial year could contact their fund and cease any further payments until 30 June (subject to passage of regulations/legislation). This measure is not compulsory. Individuals who need the income or simply do not wish to reduce their income payments need not take action. Superannuation pensioners who are funding their income requirements from a cash account may also decide to take no action. See more
01.01.2022 Some positive news for everyone. 2nd day in a row with considerable increases on the Australian market.
